Business
Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended December 31, 2023 and Declaration of Distributions on Common Stock for the Months Ending April 30, May 31, and June 30, 2024.
GREENWICH, Conn., March 15, 2024 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the “Company,” “we,”
About this update from Oxford Square Capital Corp.
[{"type":"text","content":"GREENWICH, Conn., March 15, 2024 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) (the “Company,” “we,” “us” or “our”) announced today its financial results and related information for the quarter ended December 31, 2023. On March 14, 2024, our Board of Directors declared the following distributions on our common stock: Month EndingRecord DatePayment DateAmount Per Share April 30, 2024April 16, 2024April 30, 2024$0.035 May 31, 2024May 17, 2024May 31, 2024$0.035 June 30, 2024June 14, 2024June 28, 2024$0.035 Net asset value (“NAV”) per share as of December 31, 2023 stood at $2.55, compared with a NAV per share on September 30, 2023 of $2.78. Net investment income (“NII”) was approximately $7.8 million, or $0.13 per share, for the quarter ended December 31, 2023, compared with approximately $6.4 million, or $0.11 per share, for the quarter ended September 30, 2023.Total investment income for the quarter ended December 31, 2023 amounted to approximately $12.3 million, compared with approximately $13.0 million for the quarter ended September 30, 2023. For the quarter ended December 31, 2023 we recorded investment income from our portfolio as follows: $8.0 million from our debt investments;$4.0 million from our CLO equity investments; and$0.3 million from other income. Our total expenses for the quarter ended December 31, 2023 were approximately $4.6 million, compared with total expenses of approximately $6.6 million for the quarter ended September 30, 2023.As of December 31, 2023, the following metrics applied (note that none of these metrics represented a total return to shareholders): The weighted average yield of our debt investments was 13.3% at current cost, compared with 13.1% as of September 30, 2023;The weighted average effective yield of our CLO equity investments at current cost was 9.5%, compared with 9.7% as of September 30, 2023; andThe weighted average cash distribution yield of our cash income producing CLO equity investments at current cost was 16.3%, compared with 20.1% as of September 30, 2023. For the quarter ended December 31, 2023, we recorded a net decrease in net assets resulting from operations of approximately $7.3 million, consisting of: NII of approximately $7.8 million;Net realized losses of approximately $0.3 million; andNet unrealized depreciation of ap...